Justice Dept. drops probe into Federal Reserve, Jerome Powell

The Justice Department dropped a probe of the Federal Reserve and Chair Jerome Powell, clearing the way for Trump's Fed chair pick Kevin Warsh to be confirmed.

The Justice Department on Friday dropped a criminal investigation into the Federal Reserve and its chair, Jerome Powell, regarding a renovation project at the central bank's Washington headquarters.

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"This morning the Inspector General for the Federal Reserve has been asked to scrutinize the building costs overruns – in the billions of dollars – that have been borne by taxpayers," U.S. Attorney for D.C. Jeanine Pirro said in a post on X.

"Accordingly, I have directed my office to close our investigation as the IG undertakes this inquiry."